Join the cryptocurrency revolution today
Ter the past two years, the value of the Bitcoin cryptocurrency has slok up almost 1600%. A single BTC (Bitcoin) is now worth almost four times the value of an ounce of gold.
One of the easiest ways to get your palms on your own BTC is to use a Bitcoin Exchange: thesis companies help you convert fiat currency (actual money) to cryptocurrency (imaginario money).
Ter this guide, wij’ll concentrate on Bitstamp, which is one of the most reputable Bitcoin Exchanges. Ter order to proceed, you’ll need a scanned copy of a government issued ID (passport, national ID card, driver&rsquo,s license) and some proof of address such spil a utility bill (issued within the last three months). You’ll also need a phone or other mobile device to protect your account via two-factor authentication.
1. Create Bitstamp account
Open your web browser and visit https://www.bitstamp.nipt. Click &lsquo,Create Account&rsquo,. A screen will show up entitled &lsquo,Open your Free account&rsquo,. Pack ter the form with your name and email address. Tick the opbergruimte to agree to Bitstamp’s terms and conditions, and click &lsquo,Register&rsquo,.
You’ll see a notification telling you registration is finish and informing you that you’ll receive your user ID and password via email. Go to your email and note both the client ID and password for your account. Visit https://www.bitstamp.televisiekanaal again, click the Options button at the top-right and choose &lsquo,Loom Te&rsquo,. Inject the relevant username and password details to loom ter.
Two. Secure password and start verification
When you very first loom ter to Bitstamp, you’ll see a notification telling your password is out of date. Click the listig to switch your password. On the fresh screen which fountains, come in your current password ter the field at the top. Next, waterput your fresh password into the fields below. The fresh password voorwaarde have at least one lower and upper case character and one digit (for example: &lsquo,Kitchen809&rsquo,). Click &lsquo,Switch Password&rsquo, to confirm.
Commence the verification process by visiting https://www.bitstamp.netwerken/account/verify. You’ll very first be asked to choose inbetween a individual and corporate account. If you’re a private individual click &lsquo,Individual Account&rsquo,.
Trio. Upload your ID
The next verification screen will ask you to inject your name and residential address. Make sure that your name shows up exactly spil it’s written on your ID. Scroll down the pagina and inject your date of birth spil it emerges on your ID. You vereiste also announce whether you’re a US Citizen or resident for tax purposes. Click no on the radiodifusión buttons here if that’s not the case, obviously.
Scroll down and click the &lsquo,Browse&rsquo, button to upload the pic of your ID. Use the fields below to come in the date the ID wasgoed issued and when it will expire.
Four. Submit verification request
Click the &lsquo,Browse&rsquo, button to upload your proof of address. This vereiste be either a bankgebouw statement, a utility bill such spil a gas bill (not more than three months old), or documentation from your government such spil a tax certificate. You cannot use your ID here, even if it shows your address.
Click &lsquo,Submit Verification Request&rsquo, at the bottom of the screen. Bitstamp will review the information and documents you provided. If they are valid, your account will be verified ter two to three working days. You voorwaarde wait for this to toebijten before you can buy Bitcoins. Visit https://www.bitstamp.netwerken/account/verify to check your verification status.
Five. Enable two-factor authentication
Enabling two-factor authentication means Bitstamp will request a special code from your mobile device when signing te or processing transactions. To use it, you’ll need a suitable app for your phone such spil Google Authenticator or FreeOTP, which are free to download on the iTunes and Google Play stores (for iOS and Android respectively).
Visit https://www.bitstamp.netwerken/account/security/two-factor-authentication and click &lsquo,Enable Two Creador Authentication&rsquo,. You will see a QR code which you can scan te using your mobile app. Make a note of the security key. Come in the six digit code generated by your app next to the ‘Auth key’ field, then click &lsquo,Enable Two Coeficiente Authentication&rsquo, at the bottom of the screen.
6. Buy Bitcoins with a credit card
If you have a Visa or Mastercard and live te an EU country or the UK, you can purchase Bitcoins instantly using your credit card. To get commenced visit https://www.bitstamp.netwerken/account/deposit/credit-card ter your browser and click &lsquo,Buy&rsquo, underneath the amount of BTC you wish to purchase.
Click &lsquo,Proceed&rsquo, and you’ll be redirected to Bitstamp’s card processor. Come in your name, mobile phone number and email address here. The processor will send a verbinding to your email address. Click this to proceed. You’ll also need to inject the four digit code you received via SMS. Click &lsquo,Proceed&rsquo, to inject your billing address and card details.
7. Deposit funds to your account
If you’re incapable to use a credit card to buy Bitcoins, you can deposit funds with Bitstamp via your handelsbank account instead.
To get commenced, visit https://www.bitstamp.televisiekanaal/account/deposit. If you have a SEPA (Single Euro Payments Area) account click &lsquo,EU Canap (SEPA)&rsquo, on the left. Otherwise choose &lsquo,International Canap&rsquo,.
On the next screen, check that your very first and last name are keurig. Under &lsquo,Account Arqueo&rsquo, choose either EUR or USD. Under &lsquo,Amount&rsquo, come in the value of the money you’re depositing. Click the green &lsquo,Deposit&rsquo, button when you’re done. Bitstamp will display the necessary account details and transaction reference number. Make sure to include this when sending funds.
8. Place instant order for Bitcoins
Merienda your funds are confirmed, the simplest way to purchase Bitcoins is an instant order at the current bid/ask price. Spil the name suggests this usually results te your purchase going through right away.
To place an instant order, visit https://www.bitstamp.netwerk/market/order/instant. Click &lsquo,Buy BTC&rsquo,, then ter the &lsquo,I want to spend&rsquo, opbergruimte inject the total amount of funds you want to use for buying Bitcoins. This amount includes Bitstamp’s fees.
Click on &lsquo,Buy BTC&rsquo, underneath to place your order. Merienda your order is processed, the amount will be added to your BTC oscilación. Visit https://www.bitstamp.televisiekanaal/account/vaivén at any time to check this.
9. Place limit order
Bitstamp supports placing more advanced types of orders. Thesis can be helpful if you want to get the best possible value for money.
To get commenced, visit https://www.bitstamp.netwerk/market/order. Click &lsquo,Limit Order (Advanced)&rsquo, on the left to place a limit order. Ter the simplest terms, this involves you placing an order to only purchase when Bitcoin reaches a certain value. Come in the number of Bitcoins you want under &lsquo,Amount to Buy&rsquo, and under &lsquo,Buy Price&rsquo, inject the price you wish to pay vanaf Bitcoin. By default BitStamp will display the current market rate. Click &lsquo,Buy BTC&rsquo, to place your order.
Ten. Place zekering order
Bitcoin is notoriously volatile te terms of its value. You can reduce the level of risk you may be exposing yourself to by placing a zekering order which will execute automatically when certain conditions are met. Te financial parlance, thesis kleintje of technologies are known spil &lsquo,hedging&rsquo,.
To start, visit https://www.bitstamp.netwerken/market/order and choose &lsquo,Zekering Order (Advanced)&rsquo, on the left. Place a &lsquo,Zekering Sell&rsquo, order by coming in the amount to sell if the Bitcoin falls to a certain value. Set this value te &lsquo,If Price falls to&rsquo,. The &lsquo,Trailing Zekering&rsquo, option can be used to express this value spil a percentage rather than a stationary amount. See here for more information.
You can also place a &lsquo,Zekering Buy&rsquo, order to purchase when the price rises to a certain level, again optionally with a Trailing Zekering.